Law360, New York (July 01, 2009) -- The American Recovery and Reinvestment Act of 2009 expanded tax incentives for the renewable energy sector in several ways. One significant change allows taxpayers to elect the Code Section 48 investment tax credit (ITC) in lieu of the Code Section 45 production tax credit (PTC) with respect to qualifying renewable energy facilities.
On June 5, the IRS issued Notice 2009-52 describing the procedures for making this election....
